During Friday’s Morning trade, Shares of CVS Health Corp (NYSE:CVS), lost -1.08% to $93.73.
CVS Health Corporation (CVS) and Target Corporation (TGT) declared that CVS Health has accomplished the acquisition of Target’s pharmacy and clinic businesses for about $1.9 billion. With the completion of the transaction, CVS Health attained Target’s 1,672 pharmacies across 47 states and will operate them through a store-within-a-store format, branded as CVS/pharmacy. In addition, a CVS/pharmacy will be comprised in all new Target stores that offer pharmacy services. Seventy-nine Target clinic locations will be rebranded as MinuteClinic, and CVS Health will open up to 20 new clinics in Target stores within three years of the close of the transaction.
“We look forward to assisting Target guests on their path to better health through CVS Health’s leading clinical programs, such as Maintenance Choice, Pharmacy Advisor and Specialty Connect,” said Larry Merlo, CVS Health president and CEO. “In addition, with the Target acquisition we will leverage our unique integrated business model and our scale to drive incremental sales volume and operating profit for the enterprise while providing convenience and cost savings to consumers and payors.”
“Recently’s milestone in our relationship with CVS Health is an important step in driving Target’s planned priorities forward while giving our guests easy access to industry-leading health care services. With the transition now underway, Target can further accelerate our commitment to Wellness as a signature category, assisting guests and team members in their efforts to eat better, be more active and find natural and clean label products,” said Brian Cornell, chairman and CEO of Target.
CVS Health Corporation, together with its auxiliaries, provides integrated pharmacy health care services in the United States. The company operates through Pharmacy Services and Retail Pharmacy segments. The Pharmacy Services segment offers pharmacy benefit administration services, such as plan design and administration, formulary administration, Medicare Part D services, mail order and specialty pharmacy services, retail pharmacy network administration services, prescription administration systems, clinical services, disease administration programs, and medical pharmacy administration services.
Shares of Array Biopharma Inc (NASDAQ:ARRY), inclined 0.88% to $4.61, during its current trading session.
Array BioPharma (ARRY) stated top-line results from the ongoing Phase 3 clinical trial of binimetinib in patients with advanced NRAS-mutant melanoma, known as the NEMO trial. The study met its primary endpoint of improving progression-free survival (PFS) contrast with dacarbazine treatment. The median PFS on the binimetinib arm was 2.8 months as contrast to 1.5 months on the dacarbazine arm; hazard ratio (HR) 0.62, [95% CI 0.47-0.80], p < 0.001.
In the trial, binimetinib was generally well-tolerated and the adverse events stated were consistent with previous results in NRAS melanoma patients.
Array plans to submit binimetinib to regulatory authorities for marketing approval in NRAS-mutant melanoma during the first half of 2016. Results from the NEMO trial counting progression free survival, overall survival, objective response rate, safety and prespecified subgroup analyses counting outcomes in patients who received prior treatment with immunotherapy will be presented at a medical meeting in 2016.
Array BioPharma Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer in North America, Europe, and the Asia Pacific.
Finally, Breitburn Energy Partners LP (NASDAQ:BBEP), remained flat at $0.57.
Breitburn Energy Partners, released its interim estimated total proved reserves (Interim Reserves) and present value of estimated future net cash flows regarding such estimated reserves discounted using an annual rate of 10% (PV10), as of November 1, 2015, based on NYMEX future strip prices as of November 2, 2015.
The table below summarizes Breitburn’s estimated Interim Reserves and PV10 as of November 1, 2015, based on NYMEX future strip prices as of November 2, 2015, and the estimated market-to-market value of its commodity hedges as of November 1, 2015.
Breitburn Energy Partners LP, an independent oil and gas partnership, acquires, exploits, and develops oil, natural gas liquids (NGLs), and natural gas properties in the United States. The companys oil, NGL, and natural gas reserves are primarily located in seven producing areas comprising the Arkansas, Louisiana, and East Texas; Michigan, Indiana, and Kentucky; Permian Basin in Texas and New Mexico; the Mid-Continent covering Oklahoma, Kansas, and the Texas Panhandle; Rockies in Wyoming; Florida and Alabama; and California.
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